(55 ILCS 5/6-4005) (from Ch. 34, par. 6-4005)
Sec. 6-4005.
Sinking fund.
The resolution of the county board may
provide for the creation of a sinking fund to consist of the proceeds of
the taxes levied for the payment of the principal and interest upon these
bonds. This fund shall be faithfully applied to the purchase or payment of
the bonds, and the interest thereon, issued pursuant to the provisions of
this Division.
(Source: P.A. 86-962.)
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(55 ILCS 5/6-4006) (from Ch. 34, par. 6-4006)
Sec. 6-4006.
Sale of bonds.
The bonds shall be sold to the highest
and best bidder at not less than their par value and accrued interest. The
county board shall advertise for proposals to purchase the bonds. Such
advertisement shall be published at least once in a newspaper having
circulation within the county at least 10 days prior to the date for
opening the bids. The county board may reserve the right to reject any and
all bids and to readvertise for bids.
(Source: P.A. 86-962.)
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